Max New York Life ties up with Andhra co-op banks

Max New York Life (MNYL), a joint venture between Max India Ltd and New York Life, has entered into strategic tie-ups with the co-operative central banks of Khammam and Medak districts in Andhra Pradesh for selling its life insurance products.

The two co-operative banks have a strong presence in their respective regions of operation and will enable MNYL to reach out to about six lakh bank customers spread across their 48 branches.

"The co-operative banks with their strong customer relationships will help us in growing our presence in the rural region," MNYL vice-president and head - rural business, R P Singh, stated in a press release here on Thursday.

Max New York Life will tailor its products according to the needs and affordability of the rural markets.

Important factors like education of children, daughter's marriage and flexible premium payment options will be taken into account while planning the products for customers of the bank.

All processes and procedures will be simplified to improve customer experience.